Avoid Recapture Tax When Selling Your Home
As you likely know, the depreciation you claim with your home-office deduction is subject to a recapture tax when you [...]
Get Tax Deductions by Renting Your Home to Your Business
We think you will find this story most interesting. It goes like this: Steve's tax professional tells him that IRC [...]
Tips to Avoid IRS Audit for Small Business
Let’s face it - nobody wishes for extra attention from the IRS. Most of us probably wish they’d forget we [...]
Turn Your Home Office Expenses Into Tax Deductions
You likely know that the home-office tax deduction provides tax savings to business owners. It turns otherwise nondeductible personal expenses [...]
New Health Insurance Rules for Small Businesses
Finally, the health insurance rules that apply to small businesses make more sense and allow some benefits. Beginning January 1, [...]
Tax Rules for Deducting Your SUV as a Business Expense
You can reap major tax savings with the heavy vehicle and home-office combo. The heavy vehicle produces quick deductions. The [...]
Which Authority Does the IRS Follow?
As you know, we are on your side. We're bringing this up because we want you to know that if [...]
Buy & Sell Agreement: Protect Your Business
If you are buying a business that will include more than one co-owner, you need a buy-sell agreement—period. You have [...]
Can You Deduct Related Party Losses?
Here’s a tax rule that can make you unhappy. If you sell property to a related party, you may not [...]
SEP or 401K?
Tax-free compounding is like a miracle drug for your retirement. That’s one big reason we recommend a retirement plan. And [...]